Sat Sep 28 13:32:37 UTC 2024: ## MercadoLibre Sees Increased Institutional Interest: AE Wealth Management Raises Stake

**New York, NY – September 28, 2024** – AE Wealth Management LLC significantly increased its holdings in MercadoLibre, Inc. (NASDAQ:MELI) during the second quarter, according to HoldingsChannel.com. The firm acquired an additional 35 shares, boosting its total ownership to 176 shares, valued at $289,000.

This move reflects a growing trend of institutional investors taking notice of MercadoLibre’s potential. Other notable investors have also adjusted their positions in the online commerce platform, with Gryphon Financial Partners LLC and Orion Portfolio Solutions LLC increasing their stakes in the fourth quarter. New investors, such as Focus Financial Network Inc. ADV, Dorsey & Whitney Trust CO LLC, and Scotia Capital Inc., also entered the market, demonstrating confidence in the company’s future.

Currently, institutional investors own 87.62% of MercadoLibre’s stock.

MercadoLibre stock opened at $2,064.71 on Friday. The company boasts a strong financial profile with a quick ratio of 1.26, a current ratio of 1.28, and a debt-to-equity ratio of 0.67. It has a market cap of $104.67 billion and a price-to-earnings ratio of 93.97.

Analysts are also optimistic about MercadoLibre’s prospects. The Goldman Sachs Group raised its price objective to $2,480.00, while Barclays increased its target to $2,100.00. Raymond James initiated coverage with an “outperform” rating and a $2,350.00 target price. Although StockNews.com downgraded the stock to “hold,” Susquehanna maintained a “positive” rating and raised its target price to $2,350.00. Overall, analysts remain bullish on MercadoLibre, with an average rating of “Moderate Buy” and a consensus price target of $2,217.50.

MercadoLibre operates online commerce platforms in the United States, including the Mercado Libre Marketplace and Mercado Pago FinTech platform. The company continues to expand its reach and influence in the e-commerce sector, solidifying its position as a leading player in the market.

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